This invention relates to shifting bids and/or offers. More particularly, this invention relates to systems and methods for shifting bids and/or offers in a trading interface.
Electronically based trading systems have gained widespread popularity in recent years. Such trading systems are frequently used for trading items ranging from financial instruments (such as stocks, bonds, currency, futures contracts, etc.) to used household goods (such as old records, antiques, etc.).
In many of these trading systems, bid/offer-hit/take processes are used to negotiate a sale of a given item. In connection with such processes, bids and/or offers for items are entered into a trading system and a hit or take is submitted in response to a bid or offer, respectively, to agree to a sale.
Many times, a trader may have multiple bids and/or offers that he or she wants to maintain in the trading system. These bids and/or offers are frequently referred to as a “book.” In connection with such a book of bids and/or offers, the trader may want to act upon all simultaneously. For example, in an instance where some factor has caused the prices of every bid and/or offer that the trader has in his book to change by the same amount (either an absolute amount, e.g., $5, or a relative amount, e.g., 5%), the trader may want to shift the prices of his or her bids and/or offers by that amount. Being able to shift prices in a single step may save the trader time (in not having to make the change for each bid and/or offer individually) as well as money (in not being subject to hits and/or lifts on his bids and/or offers while he is trying to change all of his bids and/or offers).
In view of the foregoing, it would be desirable to provide systems and methods for shifting bids and/or offers efficiently using a trading interface.